FARNBOROUGH — Qatar Airways has finalized an order for five 777 Freighters at the 2018 Farnborough International Air Show.
The deal is valued at around $1.7 billion and was announced as a commitment back in April 2018.
“I am delighted to be further enhancing our cargo fleet and adding five Boeing 777 Freighter aircraft,” said Qatar Airways Group Chief Executive, Akbar Al Baker.
“In the past 15 years, Qatar Airways Cargo has grown steadily and globally, becoming the third largest in the world,” Al Baker continued.
We could not have achieved this success without our resilient relationship with Boeing,” he concluded.
— Enrique Perrella (@Enrique77W) July 16, 2018
“We are proud that Qatar Airways recognizes the value of the 777 Freighter and continues to invest in this aircraft to serve its expanding freight operations,” said Boeing Commercial Airplanes President & CEO Kevin McAllister.
“We continue to see a resurgence in the air cargo market and we are confident that Boeing’s industry-leading freighter family is well positioned to meet our customers’ requirements,” added McAllister.
Qatar Airways currently operates a fleet of 13 Boeing 777 Freighters, two Boeing 747-8 Freighters, and eight A330-200F aircraft.
In the last year, the 777 Freighter has served Qatar as a critical mover of cargo into the increasingly isolated Gulf nation.
With economic ties between Qatar and Saudi Arabia and the United Arab Emirates nonexistent, the 777 Freighter has stepped up to transport much-needed goods into the country.
This deal now means that Boeing has sold 65 widebody Freighters in 2018, and more than 180 since the start of 2014, representing a 98% share in the market.
In that same period, Boeing has delivered more than 140 freighters, equivalating to a 92% market share in deliveries.
Qatar Airways currently benefit from the 777 Freighter flying up to 4,900 nautical miles on one tank as well as a payload of 112 tons.
The airplane’s long range and heavy load capacity mean fewer stops meaning lower landing fees, less congestion, lower cargo handling costs and shorter delivery times.
It is another bit of good news for the 777 Freighter, now with nearly 20 ordered by two different customers in the airshow already, it shows that momentum for the cargo industry is ramping up again.
Airways is LIVE at the Farnborough Airshow 2018. Follow our rolling coverage on Twitter at @AIRWAYSLIVE and @AIRWAYSMAGAZINE.